Recently Updated Triplex with Corner
For Sale
$320,000
176 Lanza Lane, Socorro, TX 79927
Three fully rented units with refrigerated air are included, along with a corner lot for potential additional development.
Property Size2,661 SF
Lot Size0.47 Acres
Price / SF$120.26
Days on Market329
Property Features for 176 Lanza Lane
General Information
Standard status
Active
Size
2,661 SF
Lot size
0.47 Acres
Property subtype
Multi-Family / Triplex
Zoning
M3
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,712
Amenities
refrigerated air
Yes
Refrigerator, Microwave
.00
Shingle
Building Details
Year Built
2019
Tenancy
Multi
Listing Agency:
ERA Sellers & Buyers Real Esta
(915) 449-0906
Listed By:
Mary Perkins · License #0541696
Source:
Compass
Added: Sep 18, 2025
Changed: Aug 8
Last Checked: Mar 25 at 8:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Sellers & Buyers Real Esta
Investment Insights
Based on property information with market context.
This property includes three residential units in a triplex configuration, all currently rented. Each unit features refrigerated air, and the landlord pays all utilities. The floor plans are described as identical, mirroring one another across the units. Unit 1 has two bedrooms and is leased at $850, while Units 2 and 3 each provide one bedroom and are leased at $850 and $1,000, respectively. The units are noted as recently updated.
In addition to the triplex, the sale includes a corner lot sized at 20,504.34 square feet, which the seller describes as suitable for building additional units. The property is minutes away from I-10 and 375.
Overall, the offering combines an income-producing, updated multi-unit structure with included land capacity for further expansion, subject to applicable development requirements.
In addition to the triplex, the sale includes a corner lot sized at 20,504.34 square feet, which the seller describes as suitable for building additional units. The property is minutes away from I-10 and 375.
Overall, the offering combines an income-producing, updated multi-unit structure with included land capacity for further expansion, subject to applicable development requirements.
Key Highlights
- 3‑unit property built in 2019 with identical 2BD/1BD and 1BD layouts; all units are currently rented.
- Unit 1: 2 bedrooms, 800 SF, leased at $850; Units 2: 1 bedroom, 921 SF, leased at $850; Unit 3: 1 bedroom, 940 SF, leased at $1,000.
- All units have refrigerated air, with landlord paying all utilities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,340
$441.3K
Cap Rate 7%
$315,243
$315.2K
Cap Rate 9%
$245,189
$245.2K
Market Conditions
NOI Build-Up for 2,661 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.5K $12.60/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$31.5K $11.85/SF
− OpEx
−$9.5K −$3.55/SF
NOI
$22.1K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,340
Cap Rate 7%
$315,243
Cap Rate 9%
$245,189
Alternative Uses
Best Use
Multifamily LT 5
$315.2K
$275.8K – $367.8K
NOI $22,067 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,241 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$480.9K
$420.8K – $561.1K
NOI $33,663 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three fully rented units with refrigerated air are included, along with a corner lot for potential additional development.
Where is this triplex located?
The property is located at 176 Lanza Lane Socorro, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 3‑unit property built in 2019 with identical 2BD/1BD and 1BD layouts; all units are currently rented.; Unit 1: 2 bedrooms, 800 SF, leased at $850; Units 2: 1 bedroom, 921 SF, leased at $850; Unit 3: 1 bedroom, 940 SF, leased at $1,000.; All units have refrigerated air, with landlord paying all utilities.
